The founder of hedge fund Anchor Point Capital could be out of jail as early as next week, a judge has said, if he gets treatment for bipolar disorder.

Albert Hsu: One of the photos of himself he posted on Collarme.comJudge Robert Devlin said he will consider reducing Albert Hsu’s bond from $1 million to $400,000 at a hearing on May 9, the Stamford Advocate reports, provided that his attorney and family get him inpatient treatment for the condition. Hsu has been charged with attempted first-degree sexual assault and reckless endangerment, among other charges, for allegedly setting up an ex-mistress to be kidnapped and raped.

Prosecutors charge that Hsu, posing as the victim, a 36-year-old New Canaan woman with whom he had an affair from 2002 to 2005, posted an ad on a bondage and sadomasochism Web site, seeking “a real-life abduction and rape scene.” Hsu included personal information in the ad, including contact details and travel information.

Though his former lawyer said at a hearing in March that Hsu was “greatly embarrassed” by his actions, the former hedge fund manager has pleaded not guilty to all counts. His father told the Advocate that he apologies to the victim and her family, “and I’m so sorry for my daughter-in-law and my two grandkids,” who may transfer to a different school as a result of the news coverage in New Canaan.

The prosecutor, Paul Ferencek, opposed Hsu’s motion, saying that the victim is “greatly afraid for her safety” and disputing Hsu’s claim that he is bipolar, saying he has seen no medical records indicating such a diagnosis.

For his part, Hsu’s lawyer, Robert Bello, said the defendant is not a flight risk and will surrender his passport and stay out of New Canaan and away from the victim if he is released from the Bridgeport Correctional Center. Bello complained that it will be difficult to defend Hsu if he remains in jail, because the two have limited opportunities to meet.